AGA report: Commercial gaming industry generates $16bn in revenue during Q1 2023
The quarter unsurprisingly yielded the highest revenue to date as US gaming continues to grow.
The American Gaming Association’s (AGA) has released commercial gaming revenue gaming figures for the first quarter of 2023 from its Commercial Gaming Revenue Tracker. The report showed that overall revenue totaled more than $16bn.
According to the results, the industry raked in its largest month, reaching more than $5.9bn for March.
Results from March helped propel the industry into a successful quarter, according to AGA’s findings.
The group published more specific results, breaking down figures by market. Traditional gaming brought in nearly $12.3bn in quarterly revenue from its break-and-mortar casinos. Results from Q1 surpassed last year’s previous high.
Americans placed more than $31.1bn in bets in the first quarter. Wagers from Q1 generated an all-time quarterly revenue high of $2.79bn. Analysts attribute the surge to new market activity in Kansas, Massachusetts, Ohio and Maryland.
During Q1, iGaming raked in a total of $1.48bn in revenue, a 22.7% increase year-over-year.
AGA President and CEO Bill Miller elaborated on the industry’s recovery post-pandemic.
He said, “After two full years of successive growth post-Covid, the US gaming industry has never been stronger. With records across every gaming vertical – from brick-and-mortar casinos to mobile gaming – American adults continue to choose gaming as one of their top entertainment options.
“As one of the biggest taxpayers in states across the country, we know that when gaming is successful, so are our communities. Beyond our significant tax contributions, our industry is engrained in local communities, bolstering economic development through job creation, supporting local charities and nonprofits, and setting the standard on corporate responsibility.”
The AGA recently published new research that outlines a detailed study on the gaming industry’s workforce. According to the results, the gaming industry, “is more diverse than national and hospitality industry benchmarks and boasts a diverse executive pipeline, while identifying opportunities on gender representation.”
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